Ten Lifestyle Group PLC Ten secures contract wins and renewals in EMEA (4542Z)
January 25 2022 - 2:00AM
UK Regulatory
TIDMTENG
RNS Number : 4542Z
Ten Lifestyle Group PLC
25 January 2022
25 January 2022
Ten Lifestyle Group plc
("Ten" or the "Group")
Ten secures strategic contract wins and renewals with wealth
managers in EMEA
Ten Lifestyle Group plc (AIM: TENG), a leading
technology-enabled, global concierge platform for the world's
wealthy and mass affluent, is pleased to announce it has won a
multi-year contract with a new corporate client, that is one of the
UK's largest wealth managers.
The new contract will see Ten initially launch its services in
spring 2022, making concierge and lifestyle services, including
Ten's proprietary digital platform, available to a segment of the
client's wealth management customers in the UK. This initial launch
is expected to amount to a Small contract(1) this financial year
and grow into a Medium contract during its multi-year term.
Ten is also pleased to provide the following recent business
developments in the EMEA region:
-- Ten has agreed a multi-year deal with St. James's Place, an
existing corporate client and FTSE-100 wealth management business,
to further roll-out its digitally-enabled concierge services to its
Partners and clients, growing the existing Medium contract
following a successful pilot.
-- Ten has renewed an existing Large contract with a major UK
private bank, continuing the longstanding provision of Ten's
digitally-enabled concierge services to the client's most valued
customers.
-- Further to Ten's announcement on 20 September 2021, Ten's
digitally-enabled concierge services have been added to Barclays'
Travel Plus Pack product, which is now on sale. This is expected to
result in the growth of the existing Medium contract.
-- Ten has secured Small contracts with two wealth managers in
EMEA to provide Content services to support the clients' customer
engagement strategy.
These announcements are incorporated within the Group's existing
growth plan.
Alex Cheatle, CEO of Ten Lifestyle Group, said:
"I am delighted that we have won a significant contract with a
new wealth manager in the UK. We hope the success of this programme
may lead to the further expansion of the service and the growth of
a strong and long-lasting partnership with this new corporate
client. Our aim is for our service to support our corporate clients
with improved client retention, acquisition and increases in Assets
Under Management."
This is a significant development for Ten in the UK, our most
mature market, demonstrating the potential for growth as we prove
the impact that we can have on our corporate clients' commercial
success, by delivering outstanding personal service to their valued
clients. The win, along with the other recent business developments
with wealth managers in the region, may also help provide further
proof to other wealth managers, outside the UK, looking to improve
their customer metrics."
(1) Ten categorises its corporate client contracts based on the
annualised value paid, or expected to be paid, by the corporate
client for the provision of concierge and related services by Ten
as: Small contracts (below GBP0.25m); Medium contracts (between
GBP0.25m and GBP2m); Large contracts (between GBP2m and GBP5m); and
Extra Large contracts (over GBP5m). This does not include the
revenue generated from suppliers through the provision of concierge
services.
- End -
For further information, please visit
https://www.tenlifestylegroup.com/ or contact:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Edward Knight
Paul Gillam +44 (0) 20 7418
James Smith 8900
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading technology-enabled, global
concierge platform, helping wealthy and mass affluent individuals
and their families to discover, organise, and enjoy dining, live
entertainment, travel and premium retail (and other relevant
services) with better results and more quickly than they could
themselves. Many of the world's leading brands pay Ten to support
their most valued customers.
Underpinned by industry-first technology, Ten provides its
trusted concierge services to millions of members, in over 15
languages, 24/7, 365 days a year, wherever they are in the world.
Founded in 1998, the business listed on the AIM market of the
London Stock Exchange in November 2017 (AIM: TENG).
The growth engine at the heart of Ten's business model is the
driving force behind its progress towards its objective to become
the most trusted service platform in the world.
For further information please go to: www.tenlifestylegroup.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTBZLLLLFLEBBE
(END) Dow Jones Newswires
January 25, 2022 02:00 ET (07:00 GMT)
Ten Lifestyle (LSE:TENG)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ten Lifestyle (LSE:TENG)
Historical Stock Chart
From Oct 2023 to Oct 2024